More than 50 thousand households pay less for electricity

21. June 2012

According to figures released by the electricity distribution system operator SODO, GEN-I will be supplying electricity to more than 52,000 Slovenian households in July. The company, one of the leading electricity suppliers in Slovenia in terms of total electricity supply volumes, has managed to secure an 8% market share in the household segment in just three years. Figures show that Affordable Electricity is most popular among households with above-average electricity consumption.

GEN-I initially supplied electricity only to large business customers. When the company entered the household segment in 2009, it boosted competition among suppliers, leading to lower electricity prices for all Slovenian consumers. The company actively reminded consumers of their right to choose their own electricity supplier. Although this right was formally introduced in 2007, there were very few consumers switching suppliers since the established electricity providers – traditional regional electricity companies – offered very similar terms.

According to data published by the Energy Agency of the Republic of Slovenia, only 591 households switched to new suppliers in 2008. In 2009, the number of customers who chose GEN-I as their new supplier and opted for its Affordable Electricity brand rose to 8,000. By the end of 2010, there were almost 13,000 Affordable Electricity customers in the household segment, their number rising to almost 35,000 by the end of 2011. Over the first six months of 2012, the number of GEN-I’s customers in the household segment reached 52,055 .

The number of Affordable Electricity customers will officially exceed 52 thousand in July, while the total electricity volumes supplied to households by the end of 2012 are expected to reach almost 300 GWh.

GEN-I is considered the company with the fastest growing sales in Slovenia and its initial goal in the household segment, where customers can choose between 8 different suppliers, was to secure a 10% market share within the first five years. After just three years, the company is already very close to reaching this goal. Its market share in the household segment is expected to exceed 9% by the end of 2012.

According to available figures, the Affordable Electricity brand is most popular among households whose consumption levels are above the Slovenian average. These customers are also the ones who can make the most significant savings by switching suppliers and choosing Affordable Electricity. A comparison of publicly available data on electricity prices shows that Affordable Electricity has offered the lowest electricity prices ever since its introduction. As a socially responsible company, GEN-I encourages responsible and efficient energy use. One of the ways in which it does this is by maintaining the appropriate difference in the price of energy consumed during peak and off-peak hours.

Following recent price rises introduced by some Slovenian suppliers, Affordable Electricity not only remains the cheapest option available but has become an even more attractive choice for those who use electrical devices during off-peak hours thanks to the large difference between peak and off-peak electricity prices.

In addition to lower prices, which are the result of GEN-I’s presence on international electricity markets, the company has won many customers thanks to the services it develops for them. As part of the Affordable Electricity brand, GEN-I was the first Slovenian electricity company to establish a customer call center, to ensure automated payments of electricity based on actual monthly consumption, and to enable customers to access all important data using an online application. The company has also simplified the procedure for switching electricity suppliers so that this can be done simply by signing a contract, while everything else is taken care of by the Affordable Electricity team. The team’s efforts were recognized with the "Customer Friendly Supplier" title, which GEN-I has received for three consecutive years. The award is presented based on market research conducted using the mystery buyer approach, where the person providing information is not aware that they are speaking to a market researcher as opposed to an actual customer.

“Our success in the household segment is a result of the expertise of our teams", said Robert Golob, president of the company’s management board.

“We can offer our customers the best electricity prices because we carefully plan our purchases on international markets, and we do not transfer the adverse effects of price fluctuations onto our customers. Thanks to our strategic alliances with producers, our international operations in 17 European countries, the quality of our analytical research and our carefully considered purchasing strategy, we are able to provide Affordable Electricity customers with the best electricity prices in the long term. This is the first and foremost promise of our brand, and we deliver on that promise with the help of our top experts”, added Mr Golob.

GEN-I has 109 employees in Slovenia. Their average age is 33.5 years with more than one half of all employees educated to a bachelor degree or higher. The reaching of the important milestone – 50 thousand household customers, which is confirmed by official figures presently being released by SODO, will be marked by GEN-I’s employees with in-house events.